Profit Tracker: Feedlot Breakevens Near $190 Per Cwt.

Negotiated cash cattle sold at all-time highs the first week in July and higher for the seventh consecutive week. Still, cattle feeding margins declined $12 per head for an industry average $451 per head. Meanwhile, beef packers saw their margins improve $40 per head to a loss of $46 per head, according to the Sterling Beef Profit Tracker. That puts the packer/feeder margin spread at $497 per head in favor of the feeder. Cash cattle averaged $198.22 per cwt. the week ending July 6, while composite wholesale beef prices posted $6.03 per cwt. gains to close at $324.47 per cwt. The Beef and Pork Profit Trackers are calculated by Sterling Marketing, Vale, Ore. Cattle sold last week carried a total feed cost of $355.47 per head, up $1.50 per head from the previous week, and about $226 less than feed costs for cattle sold the same week a year ago. Cattle marketed last week had a breakeven of $166.02 per cwt., while cattle placed on feed last week have a breakeven of $189.95 per cwt., whic